Traditional media companies in the 21st century : Leveraging opportunities and challenges of digital social platforms

Abstract: Social media has become a natural part of modern society and consumers expect to be able to tailor their online experience, their interaction with other consumers and their media intake. With the rise of digital social platforms, traditional media companies are facing a new media landscape in which they can no longer maintain traditional distribution methods but instead must rely on external actors. Through a qualitative method based on semi-structured interviews, document analysis and participatory observations, this study examines the given situation and how traditional media companies can leverage opportunities and challenges of digital social platforms whose development they have limited control over. The study suggests that the challenges of digital social platforms cannot be eliminated due to the differentiating goals between traditional media companies and social media actors, however, with the implementation of sensitizing concepts, they can be minimized. Thus, resulting in an applicable leveraging process which can be used regardless of the current media landscape.